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C-2 - Act respecting the Caisse de dépôt et placement du Québec

Section 40
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40. The Fund shall not make any financial transaction with a legal person or a partnership operating an enterprise in which any member of its board of directors or the board of directors of one of its wholly-owned subsidiaries, any of its officers or employees or any officer or employee of such a subsidiary or any Member of the National Assembly has an interest, as determined by government regulation.
This prohibition also applies when the interest in an enterprise referred to in the first paragraph is held by a person related to a member of the board of directors, to an officer or an employee of the Fund or of such a subsidiary, or to a Member of the National Assembly.
For the purposes of this section, “related persons” means persons connected by blood relationship, marriage, civil union, de facto union, adoption or any other tie determined by regulation of the Government.
1965 (1st sess.), c. 23, s. 36; 1968, c. 9, s. 86, s. 90; 1982, c. 17, s. 39; 1992, c. 22, s. 22; 2002, c. 6, s. 87; 2004, c. 33, s. 26.
40. The Fund shall not make any financial transaction with an enterprise to which any of its officers or employees, any member of its board of directors, or any member of the National Assembly is related.
For the purposes of this section, the following shall be related persons:
(a)  individuals connected by blood relationship, marriage, civil union, de facto union or adoption;
(b)  a partnership and an individual who is a member thereof or with whom one or more partners are so connected or by whom more than one-half of its available property has been advanced;
(c)  a legal person and an individual who directly or indirectly controls it or who holds more than one-half of its capital stock or who has provided it, by loan or otherwise, with more than one-half of the property which it has available for its business;
(d)  legal persons directly or indirectly controlled by the same person or group of persons;
(e)  a legal person and a person who is one of several related persons by whom such legal person is directly or indirectly controlled.
For the purposes of this section:
(a)  persons are connected by blood relationship if one is the descendant of the other, or is his brother or sister;
(b)  persons are connected by marriage, a civil union or a de facto union if one is connected with the other or with a person who is connected with the other by blood relationship or by adoption; and
(c)  persons are connected by adoption if one has been adopted, legally or de facto, and would be connected with the other by blood relationship if his filiation by adoption were filiation by blood.
1965 (1st sess.), c. 23, s. 36; 1968, c. 9, s. 86, s. 90; 1982, c. 17, s. 39; 1992, c. 22, s. 22; 2002, c. 6, s. 87.
40. The Fund shall not make any financial transaction with an enterprise to which any of its officers or employees, any member of its board of directors, or any member of the National Assembly is related.
For the purposes of this section, the following shall be related persons:
(a)  individuals connected by blood relationship, marriage or adoption;
(b)  a partnership and an individual who is a member thereof or with whom one or more partners are so connected or by whom more than one-half of its available property has been advanced;
(c)  a legal person and an individual who directly or indirectly controls it or who holds more than one-half of its capital stock or who has provided it, by loan or otherwise, with more than one-half of the property which it has available for its business;
(d)  legal persons directly or indirectly controlled by the same person or group of persons;
(e)  a legal person and a person who is one of several related persons by whom such legal person is directly or indirectly controlled.
For the purposes of this section:
(a)  persons are connected by blood relationship if one is the descendant of the other, or is his brother or sister;
(b)  persons are connected by marriage if one is married to the other or to a person who is connected with the other by blood relationship or by adoption; and
(c)  persons are connected by adoption if one has been adopted, legally or de facto, and would be connected with the other by blood relationship if his filiation by adoption were filiation by blood.
1965 (1st sess.), c. 23, s. 36; 1968, c. 9, s. 86, s. 90; 1982, c. 17, s. 39; 1992, c. 22, s. 22.
40. The Fund shall not make any financial transaction with an enterprise to which any of its officers or employees, any member of its board of directors, or any member of the National Assembly is related.
For the purposes of this section, the following shall be related persons:
(a)  individuals connected by blood relationship, marriage or adoption;
(b)  a partnership and an individual who is a member thereof or with whom one or more partners are so connected or by whom more than one-half of its available property has been advanced;
(c)  a company and an individual who directly or indirectly controls it or who holds more than one-half of its capital stock or who has provided it, by loan or otherwise, with more than one-half of the property which it has available for its business;
(d)  companies directly or indirectly controlled by the same person or group of persons;
(e)  a company and a person who is one of several related persons by whom such company is directly or indirectly controlled.
For the purposes of this section:
(a)  persons are connected by blood relationship if one is the descendant of the other, or is his brother or sister;
(b)  persons are connected by marriage if one is married to the other or to a person who is connected with the other by blood relationship or by adoption; and
(c)  persons are connected by adoption if one has been adopted, legally or de facto, and would be connected with the other by blood relationship if his filiation by adoption were filiation by blood.
1965 (1st sess.), c. 23, s. 36; 1968, c. 9, s. 86, s. 90; 1982, c. 17, s. 39.
40. The Fund shall not make any financial transaction with an enterprise to which any of its officers or employees, any member of its board of directors, or any member of the National Assembly is related.
For the purposes of this section, the following shall be related persons:
(a)  individuals connected by blood relationship, marriage or adoption;
(b)  a partnership and an individual who is a member thereof or with whom one or more partners are so connected or by whom more than one-half of its available property has been advanced;
(c)  a company and an individual who directly or indirectly controls it or who holds more than one-half of its capital stock or who has provided it, by loan or otherwise, with more than one-half of the property which it has available for its business;
(d)  companies directly or indirectly controlled by the same person or group of persons;
(e)  a company and a person who is one of several related persons by whom such company is directly or indirectly controlled.
For the purposes of this section:
(a)  persons are connected by blood relationship if one is the descendant of the other, or is his brother or sister;
(b)  persons are connected by marriage if one is married to the other or to a person connected with the other by blood relationship; and
(c)  persons are connected by adoption if one has been adopted legally or in fact as the child of the other or as the child of a person connected with the other by blood relationship otherwise than as brother or sister.
1965 (1st sess.), c. 23, s. 36; 1968, c. 9, s. 86, s. 90.
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